Britain’s Merlin Entertainments joins Chinese venture capital firm to bring Legoland park to Shanghai
The attraction is among three ventures the two companies have in the pipeline to grab a slice of China's theme park market
Britain’s Merlin Entertainments Group, which owns the Madame Tussauds franchise, has partnered with China Media Capital to develop a Legoland park in Shanghai, joining Walt Disney and DreamWorks in the rush to tap the mainland’s mammoth theme park businesses.
The “Legoland Discovery Centre” would be among three attractions that Merlin and China Media plan to build in Shanghai over the next 18 months, the British company said in a statement on Wednesday. They will also build a Madame Tussauds and a Sea Life aquarium in Chongqing.
Disney hopes to throw open the doors on its US$5.4 billion resort in the Pudong district next spring, while DreamWorks’ is scheduled to launch its cultural and entertainment complex on the riverfront area in the city’s downtown Xuhui district in 2017, at a cost of 20 billion yuan (HK$24.44 billion).
The signing of the new deal is expected to be witnessed by President Xi Jinping who is on a state visit to Britain.
Details about the size of the Legoland investment and the ownership structure have not been revealed.
Merlin is Europe’s top operator of visitor attractions, and ranks second globally, with more than 100 ventures in 23 countries.